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Predicts trend. When the centerline is blue confidence in future trend prediction is high. when red or green matching current prediction trend is medium to low confidence.
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study(title="TrendProphet", shorttitle="TrendProphet", overlay=false)
// Script created by Killrb13
ma10 = sma(close,10)
ma20 = sma(close,20)
ma50 = sma(close,50)
smoothedMA = avg(ma10,ma20,ma50)
cl10 = close[10]
signal = (cl10-smoothedMA)
signalBar = (signal-smoothedMA+close)
E = signalBar[10]
lineColor = iff (signalBar >= 0,green,red)
plot(signalBar, color=lineColor, style=histogram, linewidth=2)
Z = (E* (-1))
X = (Z+abs(E))
confidenceColor = iff (X <=signalBar,blue,lineColor)
plot(0, color=confidenceColor, style=line, linewidth=5)
very nice indicator, does it repaint?
excellent job one of the best indicators for confirmation of the trend i have seen till date 1000000000 times better then the other confusing crazy stuff on TV....good job keep it up
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